How much should it cost to purchase a POS system for your retail business?

Purchasing a Point of Sale software system for a retail business should involve a thorough assessment of the costs associated with the system as well as the functionality and suitability for your retail business needs.

Sometimes, sadly, retailers purchase on price, chasing a cheap solution. Buying on price is risky as what is cheap today may not be cheap tomorrow, not when you take into account costs which may not have been disclosed.

Most businesses should be able to purchase a Point of Sale hardware and software solution for a few dollars a day. This is the best way to consider the cost regardless of whether you fund the purchase through leasing or not.

Make sure you find out what these costs and terms are for each system you contemplate:

  1. What is the purchase price of the software and what sort of licence is provided for this. For example, some systems come with a one-year use licence.
  2. What training is included in the price and for what time?
  3. What support is included in the price and for what time?
  4. What software updates are included in the price and for what time?
  5. What will be the on-going software support fee and is this mandatory? Will access to the software be blocked if I do not pay the software support fee?
  6. Are software support charges the same for all users of your software?
  7. If the retail business is sold what is provided to the new owner in terms of training? Is there a transfer fee?

Not all POS software companies charge the same prices and not the same to all customers.

Do your homework and assess the total cost of ownership over three or four years.

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